Cardano Risk Management B.V. Has $2.25 Billion Stock Position in Baker Hughes Company $BKR

by · The Cerbat Gem

Cardano Risk Management B.V. grew its stake in shares of Baker Hughes Company (NASDAQ:BKR – Free Report) by 1,005.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,353,310 shares of the company’s stock after purchasing an additional 44,887,481 shares during the quarter. Baker Hughes comprises about 2.3% of Cardano Risk Management B.V.’s portfolio, making the stock its 13th biggest holding. Cardano Risk Management B.V. owned about 0.05% of Baker Hughes worth $2,247,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BKR. Cullen Frost Bankers Inc. increased its position in shares of Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares during the last quarter. Wolff Wiese Magana LLC increased its position in shares of Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Baker Hughes by 35.9% during the 4th quarter. Manchester Capital Management LLC now owns 1,370 shares of the company’s stock worth $62,000 after acquiring an additional 362 shares during the last quarter. Finally, Hilltop National Bank increased its holdings in shares of Baker Hughes by 26.7% during the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent analyst reports. TD Cowen boosted their target price on Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, April 27th. UBS Group boosted their target price on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. HSBC boosted their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Johnson Rice began coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price objective on the stock. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.14.

Check Out Our Latest Analysis on Baker Hughes

Baker Hughes Price Performance

Baker Hughes stock opened at $63.14 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $62.64 billion, a PE ratio of 20.17, a P/E/G ratio of 2.26 and a beta of 0.93. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41. The stock has a 50-day moving average price of $64.12 and a two-hundred day moving average price of $57.88.

Baker Hughes (NASDAQ:BKR – Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Analysts expect that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

Insider Buying and Selling

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes Company Profile

(Free Report)

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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